Brent is on course for its biggest monthly gain ever but has dipped overnight after a WSJ report that President Trump could be willing to halt the conflict without reopening the Strait of Hormuz by force. Iran strikes a fully laden Kuwaiti oil tanker. The White House says that Trump is still willing to strike a deal with the Iranian regime despite claims he could target energy infrastructure in the country. The Nasdaq is in correction territory following a turbulent session while the Stoxx 600 has suffered its worst monthly performance since March 2020. U.S. Federal Reserve Chairman Jerome Powell offers investors hope saying the central bank’s rates policy is comfortable.

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